Freshpet (FRPT) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

Core Viewpoint - Freshpet (FRPT) shares have recently declined by 16% over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick, suggesting that the stock may have found support after a downtrend [3][4]. - This pattern signals that bears may have lost control, and the emergence of buying interest could lead to a trend reversal [4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for Freshpet, with a 3.4% increase in the consensus EPS estimate over the last 30 days, indicating that analysts expect better earnings than previously predicted [6][7]. - Freshpet holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].